RSS Updates
Email Updates
Palm, Inc. (NASDAQ: PALM) has sort of already fallen from grace despite all the hype behind the Palm Pre. Throw in that Pixi too. Discounting is trumping what may be weaker sales. It turns out that Amazon.com (NASDAQ: AMZN) is offering the Palm Pre for Sprint for a mere $79.99. Sprint Nextel (NYSE: S) has it offered direct at $149.99 price after discounts and rebates at its site. Sprint Nextel is also selling the Palm Pixi for $99.99, but the Palm Pixi is now for sale for $24.99 at Wal-Mart Stores (NYSE: WMT). We confirmed all these prices on the websites, and this is going to confirm tough times for Palm and its finances.
Read More
Posts related to ‘Technology Companies’
The Palm Margin Squeeze (PALM, S, AMZN, WMT)
Top 10 Analyst Upgrades, Downgrades, Initiations (AFL, BRCM, DDS, D, INTC, MRVL, BTU, RTP, STP, TXN)
These are Friday morning’s top 10 analyst upgrades, downgrades, and initiations we have seen early this morning in Wall Street research calls:
AFLAC (NYSE: AFL) Raised to Overweight at Morgan Stanley.
Broadcom Corp. (NASDAQ: BRCM) Started as Outperform at BMO Capital Markets.
Dillard’s (NYSE: DDS) Raised to Buy at Deutsche Bank.
Dominion (NYSE: D) Cut to Sell at Citigroup.
Intel Corp. (NASDAQ: INTC) Started as Outperform at BMO Capital Markets.
Marvell Technology (NASDAQ: MRVL) Started as Outperform at BMO Capital Markets.
Peabody Energy (NYSE: BTU) Removed from Conviction Buy List (still Buy rated) at Goldman Sachs.
RioTinto (NYSE: RTP) Cut to Underperform at Credit Suisse.
Suntech Power (NYSE: STP) Raised to Hold at Soleil.
Texas Instruments (NYSE: TXN) Started as Outperform at BMO Capital Markets.
You can join our open email distribution list to hear more news on key analyst calls, top day trader alerts, mergers and acquisitions, Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
NOVEMBER 20, 2009
52-Week High Club (DCI, NTAP, TSL)
Donaldson Company Inc (NYSE: DCI) rose over 8.5% to a yearly high of $45.19 after the air filter maker reported 3Q earnings of $0.45 per share, beating analyst estimates.
NetApp Inc. (NASDAQ: NTAP) rose over 5.5% to a yearly high of $31.25 after the server maker reported profits of $0.37 per share, beating analysts estimates.
Trina Solar Limited (NYSE: TSL) rose over 9.5% to a yearly high of $46.80 after the Chinese solar company reported 3Q profits of $1.29 per share, beating analyst estimates by nearly 50%.
Garrett W. McIntyre
Dell Very Disappointing… Very (DELL)
Dell Inc. (NASDAQ: DELL) reported earnings of $0.17 EPS as a headline, but the clean number is $0.23 EPS on a non-GAAP basis and $12.9 billion in revenues. Thomson Reuters had estimates pegged at $0.28 for non-GAAP EPS and $13.18 billion in revenues.
Dell had previously noted that it did not expect the commercial refresh and upgrade cycle to come into play until 2010. Michael Dell noted, “We are seeing improvement in overall underlying IT demand that is continuing into the fourth quarter. The same is true with momentum in Dell’s business, specifically in our Large Enterprise and SMB segments. The launch of Windows 7 is being very well received by SMBs and consumers, and we’ll see the benefits of that more fully in our fiscal Q4.” Unfortunately, that is where the decent to good news stops and is nowhere near good enough for the show-me attitude of investors now.
Make or Break Earnings for Dell (DELL)
Dell Inc. (NASDAQ: DELL) is set to report earnings after the closing bell today. Thomson Reuters has estimates pegged at $0.28 EPS and $13.18 billion in revenues. For the coming quarter those estimates are $0.30 EPS and $13.54 billion in revenues. We have heard whisper numbers of $0.29 EPS and even higher, and the highest estimates look to be $0.30 EPS and just over $13.5 billion in revenues. The numbers and guidance are going to be closely looked at, perhaps even more than the bulk of the rest of the commentary.
Read More
Top 10 Analyst Upgrades, Downgrades, Initiations (ABC, ASML, CAH, CVS, ESRX, INTC, MRVL, MHS, SOLF, TXN)
These are this Thursday’s top ten analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
AmerisourceBergen (NYSE: ABC) Started as Buy at UBS.
ASML (NASDAQ: ASML) Cut to Neutral at B of A Merrill Lynch.
Cardinal Health (NYSE: CAH) Started as Buy at UBS.
CVS Caremark (NYSE: CVS) Started as Buy at UBS.
Express Scripts (NASDAQ: ESRX) Started as Buy at UBS.
Intel Corp. (NASDAQ: INTC) Cut to Neutral at B of A Merrill Lynch.
Marvell Technology Group (NASDAQ: MRVL) Cut to Neutral at B of A Merrill Lynch.
MedcoHealth Solutions Inc. (NYSE: MHS) Started as Buy at UBS.
Solarfun (NASDAQ: SOLF) Raised to Outperform at Oppenheimer.
Texas Instruments Inc. (NYSE: TXN) Cut to Neutral at B of A Merrill Lynch.
You can join our open email distribution list to hear more news on key analyst calls, top day trader alerts, mergers and acquisitions, Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
52-Week High Club (AMD, ASMI, ALV, CHS, GGWPQ, LFT, DE)
Advanced Micro Devices Inc. (NYSE: AMD) rose over 10% to a yearly high of $7.33 after the computer processor maker announced today that it would offer $500 million in senior notes, the cash from which will be used to purchase its 5.75 percent convertible notes due in 2012.
ASM International N.V. (NASDAQ:ASMI) rose over 5% to a yearly high of $24.69 after the semiconductor equipment maker was upgraded by Fortis Bank Nederland NV.
Autoliv Inc. (NYSE: ALV) rose over 3% to a yearly high of $41.84 after the airbag manufacturer said that production is holding up well in the fourth quarter.
Chico’s FAS Inc. (NYSE: CHS) rose over 14% to a yearly high of $15.43 after the women’s clothes retailer announced 3Q earnings of $0.13 per share, nearly doubling analysts expectations.
General Growth Properties Inc. (OTC: GGWPQ) rose over 35% to a yearly high of $6.19 after Simon Property Group Inc. (NYSE: SPG) announced that it had hired Lazard Ltd to lookk into buying assets from General Growth.
Longtop Financial Technologies Limited (NYSE: LFT) rose nearly 10% to a yearly high of $35.30 after the Chinese software developer said that it had added 3.7 million additional American depositary receipts priced at $31.25.
Deer & Company (NYSE: DE) rose over 6% to a yearly high of $52.28 after Jim Cramer recommended buying shares in the tractor maker, arguing that the company would benefit from increased agricultural activity.
Garrett W. McIntyre
52-Week High Club (AGO, SMTL, SINA, TWB)
Assured Guaranty Ltd. (NYSE: AGO) over 32% to a yearly high of $28.14 after the company posted earnings of $0.44 per share, beating analysts estimates.
Semitool Inc (NASDAQ: SMTL) rose over 30% to a yearly high of $11.00 after Applied Materials Inc (NASDAQ: AMAT) agreed to buy the company for $11.00 per share, or $364 million.
Sina Corp (NASDAQ: SINA) rose over 10% today to a yearly high of $47.95 after the Chinese internet portal beat earnings and projected margin improvements.
Tween Brands Inc (NYSE: TWB) rose over 11% today to a yearly high o $10.16 after the company posted a profite of $0.58 per share, beating analyst estimates.
Garrett W. McIntyre
Semitool Becomes Part of Applied Materials (SMTL, AMAT)
Semitool, Inc. (NASDAQ: SMTL) has become the perfect fit for Applied Materials, Inc. (NASDAQ: AMAT). Applied has decided to acquire the maker of multi-chamber single-wafer and batch wet chemical processing equipment used in the fabrication of semiconductor devices. The company is being acquired by Applied Materials for $11.00 per share in cash. The $364 million deal is small enough that it should not bleed too much from Applied Materials’ shares as its market cap is some $17 billion and now that it has earnings behind it.
Read More
52-Week High Club (FDX, LNY, MRK, GOOG)
FedEx Corp. (NYSE: FDX) over 3% to a yearly high of $84.92. Barron’s reported that the package delivery company may rise as high as $100 dollars according to a survey of investors and analysts.
Landry’s Restaurants Inc. (NYSE: LNY) rose over 20% to a yearly high of $20.23. After last week’s buyout proposal from the company’s chief executive Bill Ackman’s Pershing Square Capital has reported a stake in the company and has divulged its opposition to the buyout offer.
Merck & Co. Inc. (NYSE: MRK) rose over 2.5% to a yearly high of $34.35. The company’s Human Health President Keneth Frazier told CNBC that it would not pull Vytorin and Zetia, the company’s cholesterol medications, off of the market.
Google Inc. (NASDAQ: GOOG) rose close to 1% to a yearly high of $576.99. The TechCruch blog put out a piece on Sunday reporting that Google had hired Microsoft’s (NASDAQ: MSFT) former director of new business development.
Garrett W. McIntyre
How High Are Intel Dividend Aspirations (INTC)
Intel Corporation (NASDAQ: INTC) is defying the old status quo of big technology companies which do not pay what most would consider real dividends. Today’s quarterly dividend hike to $0.1575 from $0.14 is far from the first hike. Even when you consider a 2% share gain to $20.20, the old dividend yield was already 2.7%. The new dividend yield is 3.1% based on today’s share price. It begs one to ask, “How high does Intel want its payout to be?”
Read More
Top 10 Analyst Upgrades, Downgrades, Initiations (CADX, COH, DELL, HTE, JWN, RIMM, S, STP, URI, VRSK)
These are the top ten analyst upgrades, downgrades, and initiations we have seen from Wall Street research calls early this Monday:
Cadence Pharmaceuticals (NASDAQ: CADX) Cut to Perform at Oppenheimer.
Coach Inc. (NYSE: COH) Raised to Buy at Goldman Sachs.
Dell Inc. (NASDAQ: DELL) Started as Buy with $19 target at Goldman Sachs.
Harvest Energy (NYSE: HTE) Cut to Neutral at UBS.
Nordstrom (NYSE: JWN) Raised to Buy at Goldman Sachs.
Research In Motion (NASDAQ: RIMM) Started as Hold, $66 target, at Auriga.
Sprint Nextel (NYSE: S) Raised to Outperform at Credit Suisse.
Suntech Power Holdings Co. Ltd. (NYSE: STP) Raised to Neutral (from Underweight) at HSBC.
United Rentals (NYSE: URI) Raised to Outperform at Oppenheimer.
Verisk Analytics (NASDAQ: VRSK) Started as In-Line at Fox-Pitt; Started as Market Perform at KBW.
You can join our open email distribution list which goes out several times per week to be notified of key analyst calls, top early morning day trader alerts, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more.
JON C. OGG
Cisco’s (CSCO) Tandberg Gamble That Video Quality Pays
Cisco (NASDAQ:CSCO) has decided to gamble that it can get reluctant Tandberg shareholders to support a buyout of their company by raising its offer to $3.4 billion. That is a 10% improvement over Cisco’s previous offer. A number of Tandberg investors lined up against the first deal, saying it valued the company at too low a price.
Cisco says it will walk away from its attempt to buy the company if Tandberg shareholders do not approve a purchase at the new figure. The offer by Cisco is a huge gamble on video conferencing, an over-crowded field. Read More
Are Silicon Storage Holders Getting Enough? (SSTI)
Silicon Storage Technology, Inc. (NASDAQ: SSTI) is trading up on a private equity and management-led buyout. SST is flash memory maker based in Sunnyvale, California. While the company has entered into a definitive merger agreement to be acquired for $2.10 per share, it is almost impossible not to wonder (at best) if this price is a fair value to the Silicon Storage shareholders who would be getting cashed out if a majority approves the deal.
First off, the company is being acquired by Prophet Equity LP’s Technology Resource Holdings, Inc. as well as by members of Silicon Storage’s management team. The $2.10 price is also only a 13% premium to yesterday’s close. It seems some believe that the private equity and management-led buyout will have to pony up more. Shares are above the buyout price.
Read More
Top 10 Analyst Upgrades, Downgrades, Initiations (ADBE, FDX, JNPR, LVS, MSFT, ORCL, QCOM, CRM, NCTY, WYNN)
These are this Friday’s top early analyst upgrades, downgrades, and initiations from Wall Street research calls which may be moving shares of the underlying stocks:
Adobe Systems (NASDAQ: ADBE) Started as Buy at UBS.
FedEx (NYSE: FDX) Started as Overweight at Piper Jaffray.
Juniper Networks (NASDAQ: JNPR) Raised to Outperform at Oppenheimer.
Las Vegas Sands (NYSE: LVS) Started as Buy at Deutsche Bank.
Microsoft Corporation (NASDAQ: MSFT) Started as Buy at UBS.
Oracle Corp. (NASDAQ: ORCL) Started as Buy at UBS.
QUALCOMM Inc. (NASDAQ: QCOM) Raised to Outperform at Wells Fargo.
Salesforce.com (NYSE: CRM) Started as Neutral at UBS.
The9 Ltd (NASDAQ: NCTY) Cut to Neutral at JPMorgan.
Wynn Resorts Ltd. (NASDAQ: WYNN) Started as Buy at Deutsche Bank.
You can join our open email distribution list which goes out several times per week to be notified of key merger news, key analyst calls, top early morning day trader alerts, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more.
JON C. OGG
Tech Giants Now Hold ~$265 Billion Cash To Spend (HPQ, COMS, INTC, AMD, MSFT, CSCO, AAPL, GOOG, ORCL, JAVA, QCOM, EMC, YHOO, DELL, AMZN, EBAY, ONT, BRCD, JDSU, STAR, VMW)
You have already seen the Hewlett-Packard (NYSE: HPQ) buyout of 3Com Corporation (NASDAQ: COMS). But this week before that deal was announced we covered how mergers in the technology sector have been very slow to develop over the scale in which we and others think is possible for the sector. After the Intel Corporation (NASDAQ: INTC) settlement with Advanced Micro Devices (NYSE: AMD), the tally of cash that is now estimated would be an implied $265 billion that is available for the tech giants in our 24/7 Wall St. Real-Time 500 to make acquisitions.
The giant cash balances are held by Microsoft Corporation (NASDAQ: MSFT), Cisco Systems Inc. (NASDAQ: CSCO), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), and Oracle Corp. (NASDAQ: ORCL), assuming nothing happens with Sun Microsystems Inc. (NASDAQ: JAVA). But players like QUALCOMM Inc. (NASDAQ: QCOM), EMC Corporation (NYSE: EMC), International Business Machines (NYSE: IBM), Dell Inc. (NASDAQ: DELL), Yahoo! Inc. (NASDAQ: YHOO), Amazon.com Inc. (NASDAQ: AMZN), and eBay Inc. (NASDAQ: EBAY) are either all sitting with large amounts of cash or will be very soon.
We have broken out these technology, IT, software, and Internet companies by the cash amount they hold or what they have in a soon-to-be cash balance. Of course only a fraction of this cash will be used for mergers. But there is also a ton of room here for dividends and of course the share buybacks.
Tech Strangeworld: 3Com Bought by H-P (COMS, HPQ, CSCO, IBM)
Sometimes the unimaginable happens, and that is today. 3Com Corporation (NASDAQ: COMS) is being acquired, and in a deal that won’t run regulatory risk at least over China having access to core technology. Hewlett-Packard (NYSE: HPQ) is the surprise buyer.
H-P is buying the networking and routing company for a price of $7.90 per share in cash, which comes to an enterprise value of about $2.7 billion. The deal has also been approved by the boards of directors at each company. Based upon Cisco Systems Inc. (NASDAQ: CSCO) expanding its reach further out into data centers and beyond and based on some recent moves from IBM (NYSE: IBM), this is actually a lower surprise than had this been announced a year ago. That would make one wonder what moves those companies will make.
Read More
Applied Materials 360-Degree View Before Earnings (AMAT, SMH, USD)
Applied Materials Inc. (NASDAQ: AMAT) is on deck for earnings this afternoon right after the market closes. The chip equipment giant, and relatively new solar player, is the king of its sector to most traders and investors and will potentially have an impact on all the chip equipment stocks in the sector. Estimates from Thomson Reuters are $0.03 EPS and $1.32 billion in revenues for its October quarter, which is also its year-end with estimates of -$0.14 EPS and $4.80 billion in revenues.
Applied Materials does represent about 13.55% of the Semiconductor HOLDRs (NYSE: SMH) ETF, but only represents about 5% of the Ultra Semiconductor ProShares (NYSE: USD) ETF. We will be looking to its fiscal-2010 comments more than this last quarter.
Read More
Tech Titans Still Have $269 Billion Cash For Deals (MSFT, CSCO, AAPL, GOOG, INTC, HPQ, QCOM, EMC, VMW, YHOO, DELL, ORCL, JAVA, AMZN, EBAY)
The recovery is on and mergers are happening, yet the technology sector has been slow to make deals. Despite some deals already having taken place from the technology giants and that $260 billion cash balance which was there in the middle of last quarter is even larger now. The tally for cash by our count is now right around $269 billion. We looked through the top market caps of technology companies in our 24/7 Wall St. Real-Time 500 and this list is expanded now that some issues have been resolved in all the companies. The stocks in this group are Microsoft Corporation (NASDAQ: MSFT), Cisco Systems Inc. (NASDAQ: CSCO), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), Intel Corp. (NASDAQ: INTC), Oracle Corp. (NASDAQ: ORCL), Sun Microsystems Inc. (NASDAQ: JAVA), Hewlett-Packard Company (NYSE: HPQ), QUALCOMM Inc. (NASDAQ: QCOM), EMC Corporation (NYSE: EMC), International Business Machines (NYSE: IBM), Dell Inc. (NASDAQ: DELL), Yahoo! Inc. (NASDAQ: YHOO), Amazon.com Inc. (NASDAQ: AMZN), and eBay Inc. (NASDAQ: EBAY).
These few tech companies with the $269 billion cash that could be deployed for mergers, acquisitions, or the good old dividends are also listed before tallying up credit lines, factoring, debt sales, and other creative financing methods. We have listed the suppositions and counting methods for each one to illustrate how much is available at each company.
Read More
Is JDSU Up For Grabs? (JDSU)
JDS Uniphase Corp. (NASDAQ: JDSU) is seeing a run in the stock and in the options trading today. The company announced this morning that had “licensed patent rights for fundamental picosecond laser technology to Hamamatsu Corporation for the development of microelectronic products.” Yet there may be more to the story here as some consider it one possible takeout or merger target in the land of technology. This notion of an acquisition may seem impossible if you have known the company since it was a $100 and far higher stock back in the tech bubble days.
-
Today’s top tickerspy Indexes Home Furnishing R... +14.1% Ethanol and Biofu... +5.1% Electronics Retai... +2.1% Diabetes Stocks +2.0% Memory Chip Stock... +2.0% 
-
-
- BOE: Credit, Asset Prices Could Guide Macroprudential Rules
- FDA Reviewing Safety Of Weight-Loss Drug Meridia
- Siemens Turns Sights On Latin America For Wind Turbines
- LATIN AMERICAN MARKETS: Mexico Stocks Lower; Economy Shows Signs Of Life
- UPDATE: Dow Corning Sues Merrill Lynch Over Auction-Rate Sec.
- UPDATE: UPS To Raise Rates An Average Of 4.9% In 2010
-
-
- paidContent - Nielsen Biz Selling Print, Online But Not Until December; Lachlan Murdoch Considering Investing
- paidContent - Finally, MySpace Music Licenses 'Fifth Label' Merlin; Reins in Fiercest Critic
- paidContent - Why Sony's Planned Music Store Won't Start Out As A Serious iTunes Challenger
- paidContent - paidContent Quick Hits 11.20.09
- paidContent - SEC Watch: New DirecTV CEO Could Make $35.5 Million (And Then Some)
- paidContent - Sony, B&N's Kindle-Challengers Could Be Scarce Come Christmas
-
©2009 24/7 Wall St.
Powered by WordPress.com VIP
Designed by SlipFire
